AEW bags €200m French package for Logistis fund

AEW Europe's Logistis Fund has acquired the €200 mln Corridor logistics portfolio in France from a fund managed by Munich-based GLL Real Estate Partners.

The acquisition brings the total amount invested on behalf of Logistis in 2015 to €1 bn across 16 assets and increases the total asset value of the Logistis platform to €2 bn.

The Corridor portfolio comprises eight multi-tenant logistics assets totalling 280,000 m2, situated in prime logistics locations around Lille, Le Havre, Paris and Lyon. The assets are income producing and there are also a number of potential development opportunities, AEW Europe said.

'Following the acquisition of Corridor, we have now allocated 80% of Logistis’ investment capacity and have reached a 99% occupancy rate in the existing investment portfolio,' said Rémy Vertupier, Logistis' fund manager. 'Our investment and asset management teams have done a fantastic job in harvesting Logistis’ full potential to deliver a strong performance on behalf of our clients. Through our focused strategy and with the expertise AEW Europe has on the ground across Europe, we will continue to grow the Logistis platform through 2016 and ensure its position as a one of the leaders in the European logistics real estate market.'

JLL advised the vendor on the deal.